Joe,
Good philosophical question.
Obviously, the scorecard mentality guys think that any green should offer the standard two putt, and a good chance at birdie from anywhere on the putting surface! So, I wouldn't put too many of the kind of greens you describe on a course, and would be careful where I put them.
My first design in Atlanta finished with a 4 tier, reachable par 5, where my thought was you had to go for the green in two in self defense to assure par!
On a recent remodel I have a Par 3 with severe green contours, a maximum 130 yard play with a wild green. It has two valleys coming off the front, one a foot deep, but the other several feet deep. Its very possible on that short hole to three putt after reaching the green. I like the idea of a guy mentally tabulating possible birdies, and almost chalking one up when reading the 130 yard figure, only to walk away with a hard fought par.
I think the dividing line on green contours may be a case where the green doesn't allow you to keep putt no. 1 on the putting surface! I have told the story here of being recognized at a Stars game, and damn near being tossed out of the upper deck for a putt another fan missed at Cowboys on the second green. Somehow, my answer of "well, you need to be below the pin on that portion of the green" did not go down any better than his cheezy nachos.....
After that, a few non 2 putt greens would be acceptable in most designs, but they should be rare, since so many fixate on the standard two putt. The argument against is that the famous Stitwell Park by MacKenzie is long gone, and there is a reason why - a greens chairman five putted, and we all know its not his fault!